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Cattle futures closed higher on October 22 after the Cattle on Feed report, with December live cattle up $1.30 to $118.07 and November feeder cattle up $2.82 to $156.92. Wholesale boxed beef values also rose, and Oklahoma auction feeder prices were mostly $3 to $5 higher.
Higher cattle futures and feeder prices reflect firm demand for feedlot placements, which supports consumption of feed grains, meals and byproducts.
brownfieldagnews.comMeghan GrebnerOct 22, 2018After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
